Idaho Marks 14^th State for Program’s $100 Million Investment in Rural Communities

More than 40 Entrepreneurs Join Alumni Community of 18,000+ as Small Businesses Employ More Than 386,000 Idahoans Statewide

TWIN FALLS, IDAHO — Goldman Sachs 10,000 Small Businesses today celebrated the graduation of the inaugural Idaho cohort, recognizing more than 40 local entrepreneurs from across the state. Throughout the 12-week program, small business owners spanning 15 sectors completed the business education program designed to help catalyze growth and create jobs. Idaho marks the 14th state for the program’s $100 million Investment in Rural Communities, an initiative that launched in 2023 and aims to reach entrepreneurs in 20 predominantly rural states by 2028.

Hosted at the College of Southern Idaho, the program equips entrepreneurs with a comprehensive business education at no cost to them. The curriculum focuses on topics critical to running a business including financial literacy, marketing, operations, and HR. Each graduate leaves the program with a customized and actionable growth plan.

“Bringing 10,000 Small Businesses to Idaho is a key milestone in our $100 million Investment in Rural Communities,” said Asahi Pompey, global head of Corporate Engagement at Goldman Sachs. “From the Tetons to the Panhandle, we are delivering the education, access to capital, and networks these bedrock businesses need to help accelerate their growth, create jobs, and bolster local economies.”

The graduation underscores the critical role of Idaho’s entrepreneurial community, where small businesses are vital in driving economic growth across both rural and urban communities. Idaho is home to nearly 208,000 small businesses, representing 99.2% of all businesses in the state. These businesses employ more than 386,000 people — accounting for 56% of Idaho’s workforce.

“Providing Idaho’s entrepreneurs with the resources they need to grow and overcome challenges is vital to maintaining the Main Streets we know and love,” said U.S. Senator Jim Risch.  “As a member and former chairman of the Senate Small Business and Entrepreneurship Committee, I congratulate Idaho’s inaugural class for their hard work and look forward to seeing these ‘local gems’ continue to thrive across our state.”

Idaho’s inaugural cohort joins the broader 10,000 Small Businesses alumni network, graduating from a program that has supported more than 18,000 entrepreneurs across all 50 states. The program provides business education, access to capital, and support services to growth-oriented small business owners. According to the program’s 15-year Impact Report, three out of four alumni reported growing their revenue within 30 months of graduating, more than half reported creating new jobs within the that same period, and hiring among program graduates occurred at a rate that was four times faster than similarly sized U.S. businesses over ten years.

"10,000 Small Businesses equipped me with the knowledge to grow Lytle Signs with purpose and, just as valuably, with a network of entrepreneurs who lift each other up,” said JJ McBride, President of Lytle Signs. "This program is a powerful reminder that business growth is a team sport. I'm proud to be part of a cohort that can collectively shape the future of Idaho's economy."

The $100 million Investment in Rural Communities includes $75 million to Community Development Financial Institutions (CDFIs) to provide loans to small businesses, $15 million in funding for business education programs at local community colleges, and $10 million in access to capital capacity-building grants.

About Goldman Sachs 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing a comprehensive business education program and access to capital and business support services. To date, 10,000 Small Businesses has served over 18,000 small businesses across the United States. The program has reached businesses from all 50 states, Puerto Rico, and Washington, D.C. Learn more at www.gs.com/10ksb.
 
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.